1021
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Economy / Securities / Re: [BTC-TC] Community Exchange w/ Options, DRIP, 2FA, API, CSV, etc.
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on: June 18, 2013, 04:18:06 PM
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One thing I would like to see on BTCT is some sort of minimum granularity of prices. Right now, what happens all the time is that someone undercuts (or overbids) your ask or bid order by something silly like 0.01% or even less. So while you have functionally equivalent orders, the other one gets executed first since it's better by a negligible margin. Which means that with volumes being relatively low, you have to constantly babysit your order to ensure that it's at the right spot in the order book if there's one of those jokers going around constantly outbidding you by 1 uBTC.
In the low volume trades that occur on BTCT, these tiny fractions of a % have no meaning, but they serve to frustrate those trying to keep a competitive bid/ask in the books. A minimum granularity of in the price would help a great deal in overcoming this issue as it would force users that want to have the top order in the book to actually beat the current best price by a non-trivial (though still small) amount.
Ban bots and part of the problem is solved. PS! Bots do NOT help liquidity! Agreed!
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1024
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: June 18, 2013, 03:29:37 PM
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If they wanted to reduce price regularly, they could use a formula that factored current difficulty. This would make it "fair" to previous buyers quite dynamically.
Yes, he could. My argument was pure speculation; he must have some good reason for not going that way. A bulk sale to a private buyer sounds plausible but what would I know? Maybe he sold half the farm too, and will be replacing it with the new ones.
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1026
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: June 18, 2013, 02:01:49 PM
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Ok so we should have at minimum 100th in blades not sold, with 100 more that should have been part way through production, and honestly done with production by now... right?
I did some math and added up the difference between expected divs and actual divs for the last 5 weeks (the weeks since hardware sales, and also the weeks were SimiGuel's estimates first started being off). I got a total of .085 per share from mining hardware sales over that time. Take that times 400,000 and you get 34,024 bitcoins of profit. Divide that by 50 and you get 680 blades. Take that and multiply by 12gh and you get 8165gh sold.
NOTE this assumes we NEVER sold ANY USB miners, and I think most of us know the USB miners were the MAIN source of HW sales profit. Basically the th sold in blades is a massive over-estimate. So... knowing this... where are the rest of the blades? Are they held for deployment? Or like I keep hope, did some HUGE player just buy out all of ASICMINERS backstock?
Please check my math, tear my argument to pieces, come up with other ideas.. but try and help me answer this question. How the hell are we out of blades with how many we have sold?
We already know that some blades were sold to distributors, but we don't know the terms of those deals. Last I checked blades can still be purchased via 3rd party. I recommend just sitting tight a couple days to see how things unfold. Maybe have some relaxing tea
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1027
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Bitcoin / Hardware / Re: Is Avalon mining with customer hardware? Answer is here.
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on: June 18, 2013, 08:14:53 AM
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There must be some lawyers amongst us.. can't you guys file a class action lawsuit against them for this? There is something very unfair about this type of business practice.
By rights, you should all have full rights to those BTC that were mined during that period, because those avalons were YOURS, not THEIRS file a lawsuit
Is that really true though? If you buy a custom built car- the guys building your car can drive it around can't they? It's not like you would require them to drive it on a treadmill. As long as it came to you in new condition (dusty units aside- they said they don't have a clean room) wouldn't you be happy? In my mind the units are only yours once you get possession of them. When you buy a car, you know the mileage BEFORE you pay. The mileage and condition directly affect the price.
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1028
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Bitcoin / Hardware / Re: Is Avalon mining with customer hardware? Answer is here.
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on: June 17, 2013, 09:56:46 PM
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I don't know why this comes as a surprise to anyone. For political purposes, it makes sense that BFL decided not to mine mainnet for burnins, but other than that, why would a company want to basically throw away potential revenue? The pattern here certainly does look like testing/burnin to me, at least - if someone wants to bother, they can plot when people received units against the hashrates seen on Eligius (that data is public, I think).
Besides, didn't someone at Avalon say outright that they were mining on them before shipping? I seem to recall reading that somewhere...
Care to explain me your logic here? Aren't the "political reasons" linked to "business reasons" and therefore to "projected revenue reasons"? Or you intend to say that BFL is after some kind of greater good? What he meant was, they didn't steal because they put up with enough bitching from people, and wouldn't want to deal with even more. What that actually means is, BFL would only steal if there was low risk of being caught. There is low risk of being caught.
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1029
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Economy / Securities / Re: [ANN]BTCT:BFMINES - PMB - Escrow until operation start - Bonus divs first months
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on: June 17, 2013, 06:47:57 PM
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I'm not sure what's stopping anyone from setting up a 1 MH/s equivalent PMB with a price like BTC.002 and still making a killing. Even at 20% growth per period, the ROI for the next 9 months will only be around 65%...
Maybe I'm just on the bullish side for future difficulty increases, but nothing's come so far to make me think otherwise....
Would be very dangerous. If difficulty stalled or slowed for a long enough period you could be hurting. You'd also get miners selling off their hardware to buy your PMB, self-fulfilling your worst nightmare of diff not increasing. That's why I priced TAT.VM above the cost of the cheapest hardware on the market.
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1030
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Economy / Securities / Re: BitFunder - Lets grow together! A request to all users - https://bitfunder.com
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on: June 17, 2013, 06:33:53 PM
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Aside from the API, all that BitFunder needs in my opinion is more Users and more Assets (=higher trade volume and more possibilities for investing money).
This might be done by adding two features: - Adding LTC as a payment method - Start a referal program, so that we can link BitFunder in our signature (and get a few mBTC for every registration).
Referral program is a good idea! LTC is a good idea too, but only if you set it a separate market. I'm not interested in seeing an asset being able to be paid for by more than one currency.
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1032
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Bitcoin / Hardware / Re: Is Avalon mining with customer hardware? Answer is here.
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on: June 17, 2013, 04:44:51 PM
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Is it not a bit suspicious that if they were mining 700 BTC for "testing", something they should have made public and is not for us to find out, that they would have deleted the default pool information? This all seems too easy to come out.
Or Avalon just doesn't care or is ignorant against customer satisfaction.
Or they simply missed a spot.
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1040
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Bitcoin / Hardware / Re: ASICMINER Blade Sales [Temporarily Out of Stock]
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on: June 17, 2013, 03:42:53 PM
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Correct, if he doesn't lower the price (or dramatically increase the performance), then effectively you'd be pouring money into a losing proposition. Can't see anything new there--- whoever ever bought any AsicMiner mining product poured money into losing proposition. Well,except AsicMiner shills who faked first blade auction to pump it's retail price and with that the AM share they have. Can't say I feel sorry for them though I do admire them. You have to be seriously talented dumbass to get caught in AsicMiner's community robbery - like some 150$ profit margin on USBs (each of thousands of sold ones) while buyers won't sniff ROI ever. If there's one proof that bitcoin community is filled by absolute idiots there's no need to go further then AsicMiner sale threads. People buying AM blades aren't necessarily as dumb as you think they are. The blades are an asset like any other, and the biggest part of profiting from bitcoin assets is timing. When did you buy? How much did you make while you held? What did you sell for? Add those up and a blade owner can actually come out on top, even with difficulty rises. Timing is barely important when it's very hard to meet ROI no matter when you bought it. And even if you do you'll need so much time to do it that you could double those coins trading them. ASIC investments should be high profit ones like Avalon 1 was, it's risky investment and potential award should be big too, not something you have to fear for months or more if you would ever recover what you invested. It's only AsicMiner and it's shareholders who made significant profit on AM hardware sales, suckers who bought at any time are certainly not in that group. There's no niche on this planet where final product that is supposed to make money to final user makes dozen(s) time less money (or not at all) to that final user than it makes to ones who sell the product. So yeah, people who are buying AsicMiner products are dumb, very dumb. They're filling AM's pockets with huge amounts of money while investing significant amounts of money in something that might bring them very small profit or none at all. I know AM shareholders don't like me or anyone else saying this so clearly as AM is second coming for them but I couldn't care less about that. You are speaking your perspective and opinion as absolute, but these things are not for any one person decide. This is a marketplace, and any item is worth exactly what any buyer is willing to pay for it. Simple as that.
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